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$ 2,600,000
Est. payment | /mo
6,380 SqFt
$ 2,600,000
Est. payment | /mo
6,380 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,380 sqft
Price per Sqft $407
MLS Listing ID CL26672391
HOA Y/N No
Year Built 1957
Lot Size 7,495 Sqft
Acres 0.1721
Property Sub-Type Other
Property Description
1224 9th St is a newly listed 10 unit multifamily opportunity in the heart of Santa Monica, positioned between Wilshire Blvd and Arizona Ave in one of the city's most walkable and supply-constrained residential corridors. The property consists of (10) 1 Bed/1 Bath units spread across approximately 6,380 square feet, situated on a 7,493 square foot lot zoned SMR3. Current rents average well below market, reflecting approximately 38% upside as units turn. The property is 90% occupied and features nine on-site parking spaces, four covered carport spaces in front and five in the rear accessed from the alley, a highly valuable amenity in a neighborhood where off-street parking is limited and consistently in demand. The property boasts a Walk Score and Rider's Score of 100 out of 100, placing residents within steps of Wilshire Blvd's dining, retail, and everyday conveniences, and just minutes from Downtown Santa Monica and the Pacific Ocean. Beyond rental upside, SB 1211 provides a pathway to organically grow income through ADU development without expanding the existing building footprint, creating a compelling additional value-add component. Together, these attributes position 1224 9th St as a rare opportunity to acquire a stable, income-producing asset in one of the Westside's most enduring coastal markets.
Location
State CA
County Los Angeles
Zoning SMR3*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 4282009005
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Listed by William James • Lyon Stahl Investment Real Estate, Inc.
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